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GBM Resources Limited ( (AU:GBZ) ) has issued an update.
GBM Resources Limited has announced a successful institutional placement, raising approximately A$39.85 million to advance its Drummond Basin gold assets in Queensland. The placement, supported by major shareholder Wise Walkers Limited and other investors, aims to strengthen the company’s balance sheet, enabling further exploration and development activities, and diversifying its shareholder base.
The most recent analyst rating on (AU:GBZ) stock is a Buy with a A$0.09 price target. To see the full list of analyst forecasts on GBM Resources Limited stock, see the AU:GBZ Stock Forecast page.
More about GBM Resources Limited
GBM Resources Limited is a company operating in the mining industry, focusing primarily on gold exploration and development. The company owns 100% of the Drummond Basin gold assets in Queensland, which host significant mineral resources.
Average Trading Volume: 14,359,791
Technical Sentiment Signal: Hold
Current Market Cap: A$213.5M
For a thorough assessment of GBZ stock, go to TipRanks’ Stock Analysis page.